My Downtown Real Estate

Here's one for the naysayers.

This was written two years ago. Read HERE

Then 5 months ago, this was written in the New Sentinel -

Hartland Development has shelved plans for a $2.3 million condominium project north of downtown, the firm's president said Wednesday.

The company had planned to renovate the former Colwell Inc. paint chip production facility at the northwest corner of Sixth and Harrison streets, President John McKay said. Hartland Development still wants to convert the plant into 19 condominiums as it proposed in March 2005, but the company has not been able to secure a construction loan, he said.

Hartland Development has not given up on the project, McKay said. The state pledged $580,000 in community revitalization tax credits for the project, which is good until the end of the year. McKay is still looking at options for starting the project with the help of those tax credits.

McKay originally expected to start selling the condominiums at prices ranging from $150,000 to $180,000. Plans called for the condominiums to have 12-foot ceilings with exposed brick walls and duct work. Seven of the condominiums would have been two stories. The rest were single-story units.

Condominiums also are part of Mayor Graham Richard's revitalization project, Harrison Square, proposed for the area bounded by Jefferson Boulevard and Harrison, Brackenridge and Ewing streets.

Is there really the market for downtown residential at these prices?
HS and the ballpark is a much better view than the industrial area surrounding the 150-180k lofts that would be on 6th Street.